Nexus Inc. launches ethereum blockchain network in space – Geospatial World
Nexus Inc., a high-tech digital asset management company that develops and executes Internet of Things-centric solutions for online platforms and institutions around the world, is pleased to announce the launch of the first Global Ethereum blockchain network aboard the International Space Station, with the sole objective of providing customers with ultra-secure cryptocurrency transactions against ground hackers.
Executed from Nexus trusted ground interface terminal which has uplink-downlink latency of at least 8 hours, decelerating transaction speed, causing transmission delays in order to run multi protocols -signatures, is essential in the fight against theft and fraud. Using the 2 out of 3 multi-signature key mechanism will ensure that if an authentication key is compromised, the funds transaction remains safe and unscathed. Additionally, Nexus’ blockchain payload does not limit more than 100 transactions per transmission, further increasing the multiple layers of security already in existence.
A Falcon 9, the world’s first SpaceX orbital-class reusable double-stage revolving rocket, will take off from Kennedy Space Center with Nexus-exclusive wallet hardware resupplying Mission-22’s Mission-22 payload safely on board . Falcon 9, which will depart the LC-39A launch site at the Kennedy Space Center on Thursday, June 3, 2021 at 1:29 p.m. Eastern Daylight Time, is expected to dock with the International Space Station satellite within a day. SpaceX CRS-22, also known as SpX-22, is a commercial resupply service mission to the International Space Station. The mission is contracted by NASA and flown by SpaceX using a Cargo Dragon. This will be the second flight for SpaceX under NASA’s CRS Phase 2 contract awarded in January 2016. SpaceX plans to reuse the Cargo Dragons up to five times. The Cargo Dragon will launch without SuperDraco arrest motors or passenger seats, cockpit controls or a life support system required to support astronauts in space. This new design offers several advantages: including a faster process to recover, refurbish and resume flight compared to the previous Dragon CRS design used for ISS cargo missions.
Nexus Inc. Founder and CEO John Pollock said, “Our native space nodes will enable customers to perform ultra-secure multi-signature transaction services in orbit, without fear of hacker infiltration. The fact that there are transmission delays between satellite and earth demonstrates the deeply controlled levels of electronic protection for all movements of financial assets; guaranteeing the independence of the operations of the ethereum contract from the centralized terrestrial servers. This level of custodian service is unmatched as we completely eliminate cybercrime opportunities. With this successful mission launch into space, I expect Nexus Inc. to develop additional blockchain capabilities for enterprise business applications for our vaunted clients.
Nexus clients, who trade on Ethereum, will enjoy unprecedented protection when executing cryptocurrency transactions. Additionally, Nexus’ new blockchain wallet payload will institute a custodian of assets due to its unique payload located in the International Space Station. The following set of security protocols are implemented with each transaction:
Phase 1: From Earth
- Nexus business customers install wallet applications.
- The first signature is generated in the wallet application in order to start the transaction.
- The transaction files are then encrypted and uploaded to the Nexus server.
- Nexus transfers the encrypted transaction files to an SPC server. 5. The SPC server transfers the encrypted transaction files to the Nanoracks ground station.
Phase 2: Into the International Space Station
- The Nanoracks ground station uploads encrypted transaction files to the Nexus blockchain payload located in the International Space Station.
- The transaction files are then decrypted.
- Nexus’ blockchain node adds a second signature to transaction files.
- The transaction files are re-encrypted.
Phase 3: Return to Earth
- The re-encrypted transaction files are transferred to the Nanoracks ground station and in turn to an SPC server and ultimately to the Nexus terminal.
- Nexus’ server broadcasts completed re-encrypted transaction files over its blockchain network for its clients to view.
Nexus ethereum multisignature blockchain node payload is developed by decentralized infrastructure provider SpaceChain Foundation; the rocket mission is made possible by the Houston-based satellite operator and space solutions company Nanoracks, and their Space Act agreement with NASA. Nexus ordered SpaceChain, a community-based space platform that combines Space and blockchain technology to allow users to develop and run decentralized applications in Space, in mid-2020 to create a software space node in orbit. In the end, SpaceChain delivered the material to Nanoracks.
Based in Singapore, SpaceChain has worked on integrating blockchain with space technology to deploy decentralized satellite infrastructure and multi-signature services for Nexus. As a result, SpaceChain, on behalf of Nexus, deployed the world’s first commercial blockchain node attached to uplifting security protocols during the ethereum transaction.
The Space Act agreement with NASA covers cooperation for the use of the International Space Station on which the Nanoracks platform is located. The agreement also provides Nanoracks with the ability to coordinate and conduct short and long term space station research and experiments for its customers and, in the case of Nexus, security node installations; as well as low-cost satellite deployment solutions. Every project sent aboard the International Space Station requires the most extensive safety and security checks, and approximately 1,000 pages of documentation as required by NASA, and Nanoracks is fully responsible and accountable as a custodian and custodian. The blockchain wallet is installed as a hosted payload on the Nanoracks business platform, which includes all uplink and downlink data, aboard the International Space Station.
“While the software has already been tested internally, today’s rocket launch and the integration of blockchain hardware inside the International Space Station will signal an inaugural test transaction to be undertaken within 30 next days. Test protocols will include data transfers within terrestrial and space servers, as well as communications and successful deployment of multisignatures, ”said John Pollock, Founder and CEO of Nexus Inc.